Tag Archives: Mortgage application volume

The MBA reports an uptick in overall mortgage application volume week-over-week, led by a 4% rise in home purchase applications, despite an 88% year-over-year drop-off in refinance activity.

The MBA reports that credit standards are becoming more restrictive, as its Mortgage Credit Availability Index drops to its lowest level since March of 2013.

After slight relief in mortgage rates last week, the Fed’s sixth rate hike of the year finds the housing market adjusting to rapidly tightening monetary policies, as rates returned north of the 7% mark.

As mortgage rates remain in the 7% range, app volume fell slightly this week, with the refinance share of volume hitting a low last seen in August of 2000.

Diminished demand in the housing market has been further dampened by erratic mortgage rates, which dipped slightly this week, as affordability issues continue to put buying significantly out of reach for many.

Mortgage rates exceeding the 7% mark have driven overall mortgage app volume down, with refi apps continuing to run more than 80% below last year’s pace.

Mortgage rates continue to force down application volume, with Freddie Mac reporting rates moving slightly upward yet again this week, adversely impacting the housing market as demand dwindles.

As overall mortgage rates edge closer to 7%, mortgage app volume experienced their fourth consecutive month of declines, with an uptick in ARM loans demonstrating that they remain a feasible option for borrowers seeking ways to reduce their monthly payments.

Redfin reports that housing market activity is plunging further this fall than it did over the summer, with increased concern over 20-year high mortgage rates compounded by a volatile U.S. economy.

After a slight break last week, Freddie Mac reports the fixed-rate mortgage inched closer toward the 7% mark, as recessionary concerns and housing affordability continue to drive down housing demand.